Cochin Shipyard Ltd

Cochin Shipyard Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Cochin Shipyard Ltd

₹ 1,524 -0.85%
07 Nov - close price
cochinshipyard.com BSE: 540678 NSE: COCHINSHIP
About

Incorporated in the year 1972, Cochin Shipyard Limited(CSL) is a leading player in construction of all kinds of vessels, repairs and refits of all types of vessels including periodic upgradation and life extension of ships.
CSL has built & repaired some of the largest ships for its esteemed customers across the globe. It has exported some 45 ships to various clients outside India.
It has developed its expertise from building bulk carriers to smaller ships and ships which are more advanced in terms of technology such as Platform Supply vessels, Anchor Handling Tug Supply Vessels. [1]

Key Points

Company Overview
Cochin Shipyard is into shipbuilding (Defence, Commercial & Offshore), Ship repair, Marine Engineering Training and Strategic & Advanced Solutions. It has built and delivered 21 large vessels, 35 offshore support vessels, 93 small & medium vessels and 31 defence vessels as of FY23. [1]

Website BSE NSE - BE
  • Market Cap ₹ 40,090 Cr.
  • Current Price ₹ 1,524
  • High / Low ₹ 2,979 / 515
  • Stock P/E 46.3
  • Book Value ₹ 201
  • Dividend Yield 0.64 %
  • ROCE 21.2 %
  • ROE 16.6 %
  • Face Value ₹ 5.00
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Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 33.2%
  • Debtor days have improved from 45.4 to 33.9 days.

Cons

  • Stock is trading at 7.60 times its book value
  • The company has delivered a poor sales growth of 5.25% over past five years.
  • Company has a low return on equity of 12.1% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Aerospace & Defence Industry: Miscellaneous

Part of Nifty 500 Multicap 50:25:25 Nifty LargeMidcap 250 BSE SmallCap Nifty Midcap 100 BSE PSU

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
696 953 1,212 441 683 642 600 476 1,012 1,056 1,286 771 1,143
532 812 916 409 548 493 667 397 821 746 998 594 946
Operating Profit 164 141 296 32 135 148 -67 79 191 310 288 177 197
OPM % 24% 15% 24% 7% 20% 23% -11% 17% 19% 29% 22% 23% 17%
42 63 107 56 62 23 133 84 89 58 80 84 101
Interest 12 12 12 12 12 12 -1 9 10 8 7 7 9
Depreciation 17 18 18 19 20 19 11 17 19 20 19 19 26
Profit before tax 177 175 374 56 165 140 57 137 251 340 342 236 263
Tax % 26% 26% 27% 25% 32% 21% 30% 28% 28% 28% 24% 26% 28%
131 129 275 42 113 110 39 99 182 244 259 174 189
EPS in Rs 4.99 4.92 10.44 1.60 4.29 4.20 1.50 3.75 6.90 9.29 9.84 6.62 7.18
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
2,355 2,966 3,422 2,819 3,191 2,365 3,830 4,257
1,891 2,394 2,711 2,096 2,564 2,103 2,949 3,284
Operating Profit 465 571 711 723 627 262 882 973
OPM % 20% 19% 21% 26% 20% 11% 23% 23%
189 226 245 203 260 269 310 323
Interest 12 15 50 58 53 43 46 31
Depreciation 38 34 49 60 68 69 75 84
Profit before tax 604 748 858 808 766 418 1,071 1,182
Tax % 34% 36% 26% 25% 26% 27% 27%
396 478 632 609 564 305 783 866
EPS in Rs 14.58 18.17 24.02 23.13 21.44 11.58 29.77 32.93
Dividend Payout % 41% 36% 35% 34% 39% 43% 17%
Compounded Sales Growth
10 Years: %
5 Years: 5%
3 Years: 11%
TTM: 56%
Compounded Profit Growth
10 Years: %
5 Years: 11%
3 Years: 9%
TTM: 123%
Stock Price CAGR
10 Years: %
5 Years: 50%
3 Years: 103%
1 Year: 194%
Return on Equity
10 Years: %
5 Years: 14%
3 Years: 12%
Last Year: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 136 132 132 132 132 132 132 132
Reserves 3,120 3,197 3,591 3,902 4,262 4,296 4,872 5,144
123 123 123 540 554 587 502 501
2,109 1,799 2,565 2,976 3,467 4,998 6,531 6,618
Total Liabilities 5,487 5,251 6,411 7,549 8,414 10,013 12,037 12,395
349 376 764 867 970 953 968 1,702
CWIP 121 342 799 1,176 1,264 1,619 2,196 1,719
Investments 0 0 0 0 0 0 0 0
5,017 4,532 4,848 5,506 6,180 7,441 8,873 8,974
Total Assets 5,487 5,251 6,411 7,549 8,414 10,013 12,037 12,395

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
631 -451 253 710 1,398 1,876 -172
-1,312 1,074 -97 -443 -1,007 -1,738 481
812 -409 -309 -405 -239 -274 -371
Net Cash Flow 131 214 -154 -138 152 -136 -62

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 90 48 31 46 50 52 34
Inventory Days 98 70 65 139 67 122 216
Days Payable 83 84 85 130 38 71 98
Cash Conversion Cycle 104 34 10 54 79 103 152
Working Capital Days -114 -27 9 -5 -92 -398 -163
ROCE % 22% 25% 20% 17% 8% 21%

Shareholding Pattern

Numbers in percentages

2 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86% 72.86%
3.10% 2.73% 2.75% 3.68% 6.87% 6.28% 5.73% 5.82% 4.11% 5.23% 4.94% 3.84%
4.11% 4.29% 4.37% 4.96% 3.87% 3.78% 3.21% 2.24% 2.20% 2.45% 2.50% 3.00%
19.93% 20.12% 20.02% 18.48% 16.39% 17.07% 18.19% 19.07% 20.84% 19.47% 19.71% 20.31%
No. of Shareholders 1,67,8101,71,0901,70,1001,64,5041,69,2571,69,2641,80,9792,66,4372,92,2123,96,3276,34,0758,41,968

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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